Sealy Goes From Loss to Profit in Q3, Launches Specialty Division
September 28, 2011,
TRINITY, N.C.-Sealy turned a $15.8 million net loss from last year's third quarter into net income of $6.6 million--and has unveiled its new division that will focus on specialty bedding.
The company's return to profitability in the quarter, which ended on Aug. 28, owed to the rapid rollout of its Next Generation Posturepedic mattress line, which helped boost net sales by 4.2 percent to $334.1 million. Also helping the bottom line was the absence of a $25 million loss from discontinued operations in last year's quarter.
In forming the new specialty division, Sealy said Mark Delahanty would assume the leadership of the division as vice president and general manager of specialty bedding. Delahanty reports directly to Larry Rogers, Sealy's president and CEO.
Rogers said the division's first collection, the Embody line, will debut at Las Vegas Market this coming January.
Other Articles By Author
HFN Launches Interactive Idea Book
HFN's DIGITAL EDITION
COVER STORY: HFN Turns 90
We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.
ALSO IN THIS ISSUE:
- Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
- Omnichannel Retailing - In the Mobile App World, Time is Money